Eni Cancels Vessel Deal with Viking Supply Ships

Maritime Activity Reports, Inc.

July 25, 2016

Viking Supply Ships (VSS) core business is within the Offshore and OffshoreIcebreaking segment on a World Wide basis. Photo VSS

Viking Supply Ships (VSS) core business is within the Offshore and OffshoreIcebreaking segment on a World Wide basis. Photo VSS

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for Eni Norge in the Barents Sea and has also been part of the extended towing-preparedness in the area on behalf of the Norwegian Coastal Administration.

The vessel was according to the contract with Eni Norge firm until the end of 2016, with optional periods of 2 x 6 months thereafter. According to the contract VSS will be entitled to a termination fee of approximately USD 13.300/day for the remainder of the firm period.

The termination represents a loss of income during the remaining firm period of the contract of MUSD 3.3 in 2016. VSS will further off-set this loss by marketing the vessel in the North Sea spot market, while also searching for alternative contracts for the vessel.

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